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In essence – The Creative Youth Economy
Inventiveness, originality, and imaginativeness all sum up creativity. It defines the power of the human mind to be so brave and bold enabling it to solve problems with unique solutions, think freely, and imagine and implement change in the world. Creativity cannot and should not be confined.
According to the World Youth Report (2020), there are 1.2 billion young people aged 15 to 24 years, accounting for 16% of the global population. And 1.8 billion millennials, accounting for 23% of the global population. Making up almost 40% of the total world population, these two generations command huge power and are touted to be the drivers of economic, social, political, and cultural change. This youth population is divided across continents, with Africa and Asia leading in numbers.
With more people entering the working age, given the right resources and opportunities, the youth will dominate purchasing power and disposable income leading to higher consumption. These patterns directly postulate an increase in economic activity, accelerating GDP growth across the world.
Creativity is intrinsic to humans, the most abundantly available resource – the youth, and economics tie everything together, and we have a powerful and resilient Creative Youth Economy. The youth today are probably the first generation in history who have seen the global recession of 2008 and lived through a global pandemic of 2020.
Have had to face the challenges of unemployment, been privy to a
complete digital transformation, adapted to remote and hybrid work
environments, have seen entrepreneurship catapult, and have had to find
their own way as there is no previous precedence of so many global
events happening at the same time. The outcome of these events is a
stronger, more resilient, flexible, and liberated youth population, with
the ability to rewrite the rules of the game.
The emergence of a new player in the global GDP is on the horizon. Having already made its mark, it is advancing and creating ripples on a global stage. Three important aspects; creativity, enabling the invention and identification of a new future, the economic impact of creativity in the form of ideas, led by a tech-savvy, knowledge-hungry generation that makes up for more than one-third of the global population, is set to drive the future of the globe. And we are rooting for it.